CryptoGPT, an AI-focused blockchain firm, has efficiently raised $10 million in a latest Series A funding spherical, elevating its valuation to $250 million. The spherical, spearheaded by DWF Labs, a distinguished market maker through the crypto bear market, goals to capitalize on the rising curiosity in synthetic intelligence (AI) expertise.
CryptoGPT has launched its Web3-focused AI assistant, “Alex,” whereas concurrently growing its zero-knowledge (ZK) rollup layer 2 blockchain and data-to-AI engine. This revolutionary expertise gathers, encrypts, and transfers knowledge for numerous business functions.
In contrast to different platforms that apply ZK expertise for funds, CryptoGPT makes use of this expertise for personal knowledge transfers. The funds secured by means of the Series A spherical will allow the corporate to develop its developer crew globally and strengthen its presence in Asian markets, based on Dejan Erja, co-founder and CTO of CryptoGPT.
CryptoGPT’s main goal is to permit customers to monetize their knowledge throughout a number of sectors, together with health, relationship, gaming, and training. Moreover, the corporate plans to launch non-fungible tokens (NFTs) that retailer the proprietor’s exercise knowledge.
The AI-focused cryptocurrency market has skilled a surge in curiosity for the reason that starting of the 12 months, primarily as a result of success of the chatbot ChatGPT. Nevertheless, some skepticism surrounds the long-term viability of such tokens. Critics argue that the latest positive aspects could also be short-lived value pumps pushed by opportunistic merchants capitalizing on the hype.
CryptoGPT’s Native Token
CryptoGPT’s native token, GPT, issued in early March, presently has a market cap of simply over $12 million, based on CoinMarketCap knowledge. This quantity is considerably lower than different notable AI-focused cryptocurrencies reminiscent of Fetch.ai’s FET and SingularityNET’s AGIX.
The $10 million funding in CryptoGPT highlights the growing significance of AI-focused blockchain expertise and the rising demand for safe knowledge switch options. As the corporate continues to develop its expertise and develop its international presence, will probably be attention-grabbing to see how the AI-focused cryptocurrency market evolves within the coming years.
CryptoGPT’s improvements, such because the “Alex” AI assistant and their give attention to knowledge privateness by means of ZK expertise, illustrate the corporate’s dedication to offering cutting-edge options within the AI-crypto house. By persevering with to discover new avenues for development and addressing the challenges related to market volatility and skepticism, CryptoGPT has the potential to turn into a serious participant within the business.